Discover Card

Discover

Company type	Subsidiary
Industry	Financial services
Genre	Credit card
Founded	1985; 39 years ago (1985)
Founder	Sears
Headquarters	United States
Area served	United States (primary)
Products	Credit card, Finance, Payment Loans
Services	Credit card Finance
Operating income	US$3.6 billion (2016)
Net income	US$2.393 billion (2016)
Total assets
Number of employees	See Parent company
Parent	Dean Witter Reynolds (1985–1997) Morgan Stanley (1997–2007) Discover Financial (2007–present)
Divisions	Discover Bank
Website	discover.com/credit-cards

Discover is a credit card brand issued primarily in the United States. It was introduced by Sears in 1985. When launched, Discover did not charge an annual fee and offered a higher-than-normal credit limit. A subsequent innovation was "Cashback Bonus" on purchases.^[1]

Most cards with the Discover brand are issued by Discover Bank, formerly the Greenwood Trust Company. Discover transactions are processed through the Discover Network payment network. In 2005, Discover Financial Services acquired Pulse, an electronic funds transfer network, allowing it to market and issue debit and ATM cards. In February 2006, Discover Financial Services announced that it would begin offering Discover debit cards to other financial institutions, made possible by the acquisition of Pulse.^[2]

Discover is the third largest credit card brand in the U.S., with 60.6 million cardholders or about 8% of cards in circulation, placing it well behind Visa (48%) and Mastercard (36%), but slightly ahead of American Express (7.5%).^[3][4]